An Introduction to Auction Theory

Flavio M. Menezes and Paulo K. Monteiro

Covers an important, topical, and practical component of an economist's training.

A step-by-step, self-contained treatment of the theory of auctions.

Provides guidance through all the basic results in auction theory.

The only book in this area written as a textbook for advanced undergraduates and introductory graduate courses.

An Introduction to Auction Theory

Flavio M. Menezes and Paulo K. Monteiro

Description

Auction theory is now an important component of an economist's training. The techniques and insights gained from the study of auction theory provide a useful starting point for those who want to venture into the economics of information, mechanism design, and regulatory economics.

This book provides a step-by-step, self-contained treatment of the theory of auctions. It allows students and readers with a calculus background to work through all the basic results, covering the basic independent-private-model; the effects of introducing correlation in valuations on equilibrium behaviour and the seller's expected revenue; mechanism design; and the theory of multi-object auctions.

An Introduction to Auction Theory

Flavio M. Menezes and Paulo K. Monteiro

Author Information

An Introduction to Auction Theory

Flavio M. Menezes and Paulo K. Monteiro

Reviews and Awards

"Although the book focuses squarely on auctions, it is likely to be helpful in courses dealing with information economics generally. A particular virtue of the book is the tangible, hands-on, approach taken to explaining the revelation principle...a very helpful collection of core results and techniques." - John Asker Economic Record